Consumer forum asks ICICI Bank to pay Rs 75,000 to complainant

SummaryA consumer forum here has asked a private bank to pay Rs 75,000 along with interest for confiscating and selling vehicle of a person after he failed to deposit an instalment on time.

A consumer forum here has asked a private bank to pay Rs 75,000 along with interest for confiscating and selling vehicle of a person after he failed to deposit an instalment on time.

Besides an interest of 10 per cent per annum, the forum also asked ICICI Bank to pay Rs 2,000 to the complainant as litigation expenses, a state government spokesperson said today.

Gurjeet Singh of Muktsar district had alleged that the bank sold his vehicle at a price lower than its cost even though he had offered to pay the instalment, which he could not deposit on time because of remaining stuck in Maharashtra due to transporters' strike.

After hearing both the parties, the forum found the bank guilty of negligence and asked it to pay the amount, the spokesperson said.

Gurjeet had availed a loan of Rs 5.19 lakh from bank's Bhatinda branch in 2004, which was to be paid in 44 monthly instalments.